These are the questions people ask us most often. If yours is not here, call and a licensed agent will be glad to help. There is no cost and no obligation.
Final expense insurance is a small whole life policy, usually a few thousand to $25,000, that pays your beneficiary a lump sum when you pass away. Premiums are generally level for life. Many plans need no medical exam. This is private insurance. We are not affiliated with or endorsed by any government agency, Social Security, or the federal Medicare program.
According to the National Funeral Directors Association, the national median cost of an adult funeral with a viewing and burial was $8,300 in 2023, the most recent figure it has published. When a burial vault is included, which many cemeteries require, the median rises to $9,995. Those numbers do not include a cemetery plot, opening and closing the grave, or a headstone, which can add thousands more.
A funeral with a viewing followed by cremation had a median cost of $6,280. Direct cremation, without a viewing or service, usually costs less.
Prices vary a great deal between regions and even between funeral homes in the same town. Under the FTC Funeral Rule, funeral homes must give you an itemized price list when you ask in person, and must give prices over the phone if you call and ask. Comparing two or three price lists is one of the simplest ways to keep costs down. Source: NFDA 2023 General Price List Study.
Call to talk with a licensed agent. It is free, and there is no obligation to buy.
Final expense policies are sorted mostly by how the insurer decides whether to accept you. That choice affects the price and when the full benefit is available, so it is worth understanding before you call.
You answer a short list of health questions on the application, and there is no medical exam. If the insurer approves you, the full death benefit is generally available from the first day the policy is in force. Because the insurer knows a bit about your health, this is usually the lowest-priced option for people who qualify.
This is built for people who have some health conditions that keep them from qualifying for a level plan. If death from natural causes happens during the first two or three years, the policy pays a reduced amount or returns premiums. After that period, the full benefit is paid. Accidental death is usually covered in full from the start.
There are no health questions at all, as long as you are within the insurer’s age limits. In exchange, nearly every guaranteed issue plan has a waiting period, typically two years, for deaths from natural causes. If death happens in that window, the beneficiary usually receives the premiums paid, often with interest. These plans cost the most for each dollar of coverage and often cap the benefit around $25,000.
Exact terms differ by insurer and by state. A licensed agent should show you the actual policy language, including any waiting period, before you apply.
When you pass away, your beneficiary contacts the insurance company and sends a claim form and a certified copy of the death certificate. Once the claim is approved, the insurer pays the benefit as a lump sum. Many insurers pay final expense claims fairly quickly, but timing depends on the company and whether the policy is still within its first two years, when insurers are allowed to review claims more closely.
The money goes to the person you name, not to a funeral home, so they can use it however it is needed. Some families choose to assign part of the benefit directly to the funeral home so services can be arranged without anyone paying up front. Your agent can explain how that works with a specific insurer.
Keep your beneficiary information up to date, and tell that person the policy exists and where the paperwork is. A policy nobody knows about can go unclaimed for a long time.
Start with the kind of goodbye you would want. A simple cremation needs less coverage than a traditional funeral with a burial, a vault, and a headstone. Then add any debts or medical bills you would not want to leave behind, and a small cushion for travel and other costs your family may face in the weeks after.
For many people that lands somewhere between $5,000 and $20,000. Final expense policies are usually available from about $2,000 up to $25,000 or more, and some insurers go as high as $50,000. The right amount is the one that covers what matters to you at a monthly premium you can keep paying for life, because a policy that lapses pays nothing.
If you already have some coverage, such as a small policy from an old job or a union, count it. A good agent will help you avoid buying more than you need.
Calling connects you with a licensed insurance agent. Expect a relaxed conversation, not a sales pitch. The agent will usually ask:
From there, the agent can tell you which kinds of plans you are likely to qualify for and what they cost. You never have to decide on the call. It is completely fine to write things down, talk with your family, and call back later.
Mostly, yes. Burial insurance, funeral insurance, and final expense insurance usually describe the same type of small whole life policy.
Most final expense plans do not require one. Many ask a few health questions, and guaranteed issue plans ask none.
Most final expense policies are whole life policies with level premiums that are set when the policy starts. Always check the policy terms to be sure.
No. The benefit is paid to the beneficiary you name, and they decide how to use it.
No. This is private insurance. We are not affiliated with or endorsed by any government agency, Social Security, or the federal Medicare program.
No. Talking with an agent and getting a quote is free, and there is no obligation to buy.
A licensed insurance agent. We are not an insurance company. We connect callers with agents who can quote plans from insurance carriers.
Some plans, especially guaranteed issue, pay a limited benefit if death from natural causes happens in the first two or three years. After that, the full benefit is paid.
Final expense policies usually range from about $2,000 to $25,000, and some insurers offer up to $50,000. Limits depend on your age, health, and the plan.
Once the insurer receives a claim form and death certificate and approves the claim, payment is often made within a few weeks. Claims in the first two years can take longer to review.
Most policies have a grace period, often about 30 days. If the premium is not paid by the end of it, the policy can lapse. Automatic payments help prevent that.
Yes. Most states require a free look period, often 10 to 30 days, when you can cancel for a full refund. You can also stop paying later, though the coverage will end.
Yes. You can name several people and choose the share each one receives, and you can name a backup beneficiary.
Most policies are whole life and build a small amount of cash value over time. Loans against it reduce the death benefit if not repaid.
Often, yes. Depending on how well a condition is controlled and how recent any events were, you may qualify for a level or graded plan. Guaranteed issue is available if not.
You should never feel pressured. You can ask questions, get a quote, and take as much time as you need. If a call does not feel right, you can end it.
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Plan availability varies by state and by insurer. A licensed agent can tell you what is available where you live.
No. A preneed plan pays a particular funeral home. Final expense pays your beneficiary, who can use the money anywhere.
Your age, state, tobacco use, a general idea of your health and medications, and the coverage amount you have in mind.
How final expense works · Burial insurance · Cremation coverage · Guaranteed issue · Cost
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